Fall Hike-the-Hill Wraps Up with NCUA Board Meeting
by Amy Kleinschmit
Chief Compliance Officer

Yesterday, September 19, attendees wrapped up the CUAD Legislative/Regulatory Hike-the-Hill by attending the National Credit Union Administration’s September board meeting at their headquarters in Alexandria, Virginia.


Once the board meeting was called to order, Chairman Hood started by acknowledging all the leagues present for the meeting, which included – for the first time – the Credit Union Association of the Dakotas with ten Dakota credit union professionals present.


Along with an update on the NCUSIF, the board approved three final rules. These rules relate to: Part 715, Supervisory Committee Audits; Part 701 Appendix A, Federal Credit Union Bylaws; and Part 701, Payday Alternative Loans II. I will be including expanded summaries of all of these final rules in future Memo articles very soon.


I would like to echo my colleague Jay Kruse from yesterday’s Memo coverage, and once again thank all the credit union professionals that took part in this annual fall advocacy trip. It is very important that we continue to bring our stories and the impact of these rules and regulations to DC. Even the mundane Call Report Instructions have significant impact on a credit union’s operations. These credit union professionals represented the Dakotas outstandingly, and we know our message was heard by legislators and regulators alike.

Photo: A group of Dakota advocates gather at NCUA's office in Alexandria, VA just before the September board meeting. 

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